DGFT India: Regulating the Import export Trade of India

Those who are connected import export trading are very aware of the term DGFT India that stands for Director General of Foreign Trade, India. Functioning your Ministry of Commerce and Industry, it is one amongst the most important authorities, which is solely the reason for framing the policies regarding export and import in India. Promoting export and import related activities a country are one from the major objectives of this organization. To fulfill medicine it formulates and implements various trading policies and guidelines regarding foreign trade for example – Move Policy or the Exim Policy, etc.

The DGFT Delhi is the Zonal Office (North Zone) that has nine Regional offices under its jurisdiction. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of many schemes available as per Export-Import Policy. The prime objective of this department is to promote or facilitate trade related information, and to provide accurate and reliable information in public domain that can be easily used by numerous trading communities within the country and abroad.

Following is the list of some of the major wings of DGFT India that takes care of numerous activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.O. Cell

Drawback

Policy Division

Policy Cell

Policy Research and Analysis

Restricted Import Licensing

Enforcement cum Adjudication

Statistics Division

Human Resources Development

National Informatics Centre-NIC

DGFT Software Technology Parks in India

DGFT Special Economic Zones

DGFT Export Oriented Units (EOUs) in India

Some among the major activities of this authority that happen to be mandate for import export traders include:

Issue of IEC Code Online Application India number – IEC stands for Importer Exporter Code from the directorate, which can be a primary requirement for any company or venture capitalist endeavoring to do move in India. The IEC code can easily be obtained over the regional offices by applying through post or by using an online form. One in addition be check for his/her application status on the website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a good numerical code assigned to several products and commodities for import export trading. This code is required while shipping commodities in one country to another. In short it is really a particular number assigned to particular products used for describing goods in the import export trading staging.

It issues new trading policies and updates the existing ones- It lays around the required framework upon which traders and firms pursue cross border buying and selling. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, additionally, it regulates the trade by imposing guidelines.

Whenever the Directorate makes any new amendment or introduces fresh new clause for any preexisting policy, the amendment notification is flashed on the internet too. It highly important for the people today the international trading community to keep a tab on all these important reports. You can easily get in case you announcements of DGFT India on Infodrive India, a top export import database net site.

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